Transgene shares jump on AstraZeneca collaboration development
AstraZeneca (LSE: AZN) has exercised its first license option for an Invir.IO oncolytic virus (OV) developed from its ongoing OV collaboration with Transgene (Euronext Paris: TNG), the biotech that designs and develops virus-based immunotherapeutics against cancer.
The exercise of this option for an OV, integrating an undisclosed transgene, will result in the French firm receiving an $8 million payment from the Anglo-Swedish pharma major.
"We have developed a very productive working relationship with the AstraZeneca team"Transgene is also eligible to receive development, regulatory and sales-based milestones payments as well as a royalty based on future commercial sales.
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